Mastercard (NYSE:MA) Price Target Raised to $567.00 at TD Cowen

Mastercard (NYSE:MA) had its target price raised by TD Cowen from $533.00 to $567.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

Several other analysts also recently weighed in on MA. Robert W. Baird boosted their price objective on Mastercard from $545.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group upped their price target on shares of Mastercard from $590.00 to $610.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley raised their price target on shares of Mastercard from $544.00 to $564.00 and gave the stock an “overweight” rating in a report on Thursday. William Blair raised shares of Mastercard to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America increased their target price on shares of Mastercard from $480.00 to $509.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $549.16.

Mastercard Price Performance

MA stock opened at $521.89 on Friday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $479.01 billion, a P/E ratio of 39.48, a P/E/G ratio of 2.28 and a beta of 1.10. The firm’s fifty day moving average is $504.09 and its 200 day moving average is $471.38. Mastercard has a 52 week low of $395.55 and a 52 week high of $534.03.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.16. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $3.39 earnings per share. Research analysts predict that Mastercard will post 14.47 earnings per share for the current year.

Mastercard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 annualized dividend and a dividend yield of 0.51%. Mastercard’s payout ratio is 19.97%.

Insider Buying and Selling

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $493.10, for a total transaction of $2,310,173.50. Following the completion of the sale, the chief marketing officer now owns 17,118 shares of the company’s stock, valued at $8,440,885.80. This trade represents a 21.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Foundation Mastercard sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $468.80, for a total value of $42,192,000.00. Following the completion of the transaction, the insider now directly owns 91,649,308 shares in the company, valued at $42,965,195,590.40. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,370 shares of company stock worth $46,797,168 in the last 90 days. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Mastercard

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Highline Wealth Partners LLC purchased a new position in Mastercard in the third quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Mastercard in the 2nd quarter worth approximately $34,000. Fairway Wealth LLC purchased a new position in shares of Mastercard in the second quarter worth approximately $35,000. First Personal Financial Services bought a new stake in Mastercard during the third quarter valued at approximately $39,000. Finally, Lowe Wealth Advisors LLC increased its holdings in Mastercard by 74.0% during the third quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock valued at $43,000 after buying an additional 37 shares during the last quarter. Institutional investors own 97.28% of the company’s stock.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.